Word: mci
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...orders through discounts and making its machines compatible with IBM's. At the same time, IBM is treading on AT&T's territory. The computer giant made another move into the $50 billion U.S. market for long-distance service when it announced plans to buy up to 30% of MCI Communications of Washington, whose $2 billion in revenues makes it the second-largest long-distance company after...
...partnership with MCI should intensify the competition in telecommunications that the Bell System breakup was intended to bring about. Despite MCI's rapid growth during the past decade, the company still accounts for only about 6% of U.S. long-distance calls. AT&T remains the leader, with nearly 90% of the business. Now that it has IBM behind it, MCI should have far more of the muscle and corporate prestige needed to stand...
...purchase of MCI stock is not IBM's first move into telecommunications. In 1974 it started Satellite Business Systems, a venture with Aetna and Comsat that was designed to provide data and telephone communications mainly for large corporations. The operation, however, has not been successful, losing $1.3 billion in the past eleven years. IBM eventually bought out Aetna and Comsat. Despite that setback, IBM has continued to push ahead into telecommunications. Last year it bought Rolm, the third-largest maker of telephone switching equipment, for $1.2 billion. IBM and Merrill Lynch have created International MarketNet, a service that supplies information...
...deal with MCI, IBM agreed to turn over Satellite Business Systems to MCI. In exchange, the computer company got 45 million MCI shares, or 16% of the total outstanding, along with the rights to buy another 7 million. IBM promised to invest an additional $400 million in MCI during the next three years...
Industry leader American Telephone & Telegraph, which has more than 90% of long-distance business, put a 5.6% rate cut into effect. MCI Communications of Washington (1984 revenues: $2 billion) followed with a cut of up to 11% on rates starting July 1 and claimed the new fees would beat AT&T's prices by 5% to 35%. MCI's reductions would drive down the cost of a ten-minute weekend call between New York City and San Francisco to $1.71, from $1.82. Sprint, a subsidiary of Connecticut-based GTE, and Chicago's Allnet said they might cut their rates...